Cornercap Investment Counsel Inc. Grows Position in Federated Hermes, Inc. (NYSE:FHI)

Cornercap Investment Counsel Inc. increased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 134.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,224 shares of the company’s stock after acquiring an additional 16,181 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Federated Hermes were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FHI. Fifth Third Bancorp lifted its position in shares of Federated Hermes by 71.1% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the company’s stock valued at $25,000 after buying an additional 307 shares in the last quarter. Signaturefd LLC lifted its position in shares of Federated Hermes by 69.9% during the 3rd quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after buying an additional 343 shares in the last quarter. Quarry LP purchased a new position in shares of Federated Hermes during the 2nd quarter valued at approximately $29,000. CENTRAL TRUST Co lifted its position in shares of Federated Hermes by 310.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,520 shares of the company’s stock valued at $50,000 after buying an additional 1,150 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Federated Hermes in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Down 2.0 %

Shares of FHI opened at $35.03 on Tuesday. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $45.55. The company has a market capitalization of $2.96 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The stock has a fifty day simple moving average of $35.68 and a two-hundred day simple moving average of $34.03. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. As a group, equities analysts forecast that Federated Hermes, Inc. will post 3.73 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Wednesday, February 7th. Federated Hermes’s payout ratio is 32.84%.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of research reports. UBS Group raised their price objective on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. TD Cowen initiated coverage on Federated Hermes in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Federated Hermes from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Buying and Selling

In related news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now directly owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Saker Anwar Nusseibeh sold 8,302 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.15, for a total transaction of $300,117.30. Following the completion of the transaction, the chief executive officer now directly owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the transaction, the insider now owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,435 shares of company stock valued at $4,092,831. 3.70% of the stock is currently owned by insiders.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.